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☆ Watch CNBC's full interview with Cantor Fitzgerald's Eric Johnston
▼ + stars: | 2022-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Cantor Fitzgerald's Eric JohnstonEric Johnston, Cantor Fitzgerald's head of equity derivatives and cross-asset strategy, joins 'Closing Bell' to discuss the market repricing the chances of a soft landing, the ability for markets to maintain the current rally and signs of inflation falling in pockets of the economy.

☆ Multiple data points suggest inflation is falling, says Cantor Fitzgerald's Eric Johnston
▼ + stars: | 2022-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMultiple data points suggest inflation is falling, says Cantor Fitzgerald's Eric JohnstonEric Johnston, Cantor Fitzgerald's head of equity derivatives and cross-asset strategy, joins 'Closing Bell' to discuss market repricing the chances of a soft landing, the ability for markets to maintain the current rally, and signs of inflation falling in pockets of the economy.

☆ Stocks and bonds are struggling. Give these strategies a shot instead, say Goldman and others
▼ + stars: | 2022-10-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Both stocks and bonds have struggled this year, leaving investors with few alternatives. Stocks and bonds usually move in opposite directions, but that hasn't been the case this year. Trend-following strategy Adopting the so-called trend-following strategy this year would pay off for investors, according to Goldman and Wells Fargo in recent notes. Portfolio diversification can, and often should, include more than stocks and bonds," said Hazlitt Gill, retail investment research senior manager. Alternative investments UBS in an Oct. 21 note said investors can use structured investments to "tilt the odds favorably."

☆ Factbox: Who's in and out in Credit Suisse's day of reckoning
▼ + stars: | 2022-10-27 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Oct 27 (Reuters) - Credit Suisse's (CSGN.S) latest shake-up has led to the promotion of some senior executives to more powerful roles while others are leaving. IN:MICHAEL KLEINA former Citigroup Inc (C.N) dealmaker, Klein has been named adviser to Credit Suisse CEO Ulrich Körner. He was hired by former Credit Suisse boss Tidjane Thiam in 2017 to run equity derivatives globally. A Spanish national, Lopez Lorenzo joined Credit Suisse in 2015 from JPMorgan (JPM.N) where he was a managing director in New York. The 47-year-old banker was part of a new crop of executives who had been tasked to restore Credit Suisse's reputation after a series of scandals.

☆ Regulators Weigh Whether to Allow Betting on Midterms
▼ + stars: | 2022-10-26 | by ( Paul Kiernan | ) www.wsj.com time to read: 1 min

Betting on elections was once common in the U.S., sometimes exceeding the volume of stock trading, one research team found. WASHINGTON—Derivatives exchange Kalshi Inc. is ready to let users bet on next month’s midterm Congressional election, with a timer on its website counting down the days, hours and minutes until the first U.S.-based election-betting market goes live. But the plan carries an asterisk: “pending regulatory approval.”

☆ Oil volatility could get more intense as Europe's December deadline approaches
▼ + stars: | 2022-10-26 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

Singh notes there could be a significant drop in Russian oil in coming months as European restrictions on imports of oil and refined products, like diesel, take hold. Barclays expects about 1 million barrels of Russian oil to come off the market, but Singh said his estimate is low compared with others. He noted that China and India have increased their purchases of Russian oil, but so have other countries, like Turkey. We also believed the government in the U.S. was going to put a floor under oil prices by refilling the SPR," said Blanch. There's going to be a very large spread between European energy prices and U.S. energy prices."

☆ Goldman says this options strategy around earnings is returning 13%. How to play it next
▼ + stars: | 2022-10-26 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The earnings season has been slightly better-than-expected so far, and that has created a winning trend for options traders, according to Goldman Sachs. "Buying calls ahead of earnings for the average US stock with liquid options has returned +13% return on premium QTD. A call option is a bet that a stock will rise above a pre-set strike price before its expiration date. Goldman identified upcoming earnings reports where the price of options looks cheap. "Looking ahead, we recommend buying calls or replacing stock positions with call options on stocks reporting earnings, as the broad decline in options prices has made volatility buying strategies attractive," Vivek wrote.

The tech-heavy Nasdaq (.IXIC) jumped more than 2% in the session as the 10-year Treasury yield hit the day's low of 4.05% before bouncing slightly. 3M (MMM.N), on the other hand, fell 0.4% as it cut its full-year revenue and profit forecasts due to a stronger dollar. Advancing issues outnumbered decliners by a 5.56-to-1 ratio on the NYSE and by a 4.32-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 61 new highs and 101 new lows. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ UBS posts third-quarter profit beat, helped by new money inflows
▼ + stars: | 2022-10-25 | by ( Noele Illien | ) www.reuters.com time to read: +2 min

The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland October 25, 2022. REUTERS/Arnd WiegmannZURICH, Oct 25 (Reuters) - UBS (UBSG.S) logged a smaller-than-expected 24% slide in third-quarter net profit with robust client inflows and lower costs helping to ameliorate the impact of turbulent financial markets. The Swiss bank attracted $17 billion in net new fee generating assets in wealth management and $18 billion of net new money in asset management, with strong performances from all major regions. "The focus in the results should fall on the very positive net new money in Wealth Management, said analysts at ZKB. Net profit attributable to shareholders fell to $1.73 billion, ahead of $1.53 billion forecast by 17 analysts in a company-gathered consensus.

☆ These are times when you want to recommit to long-term investing discipline, says Evercore's Emanuel
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese are times when you want to recommit to long-term investing discipline, says Evercore's EmanuelJulian Emanuel, Evercore ISI head of U.S. equity and derivatives strategy, joins 'Squawk on the Street' to discuss what's priced into the stock and bond markets, if his strategy relies on yields coming down and more.

☆ Watch CNBC's full interview with Evercore's Julian Emanuel
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Evercore's Julian EmanuelJulian Emanuel, Evercore ISI head of U.S. equity and derivatives strategy, joins 'Squawk on the Street' to discuss what's priced into the stock and bond markets, if his strategy relies on yields coming down and much more.

Reuters Graphics Reuters GraphicsAmong factors fueling the swings is a flood of options trades, many of them short-term in nature. A surge in options trading tends to boost hedging by market makers – typically large banks or financial institutions that facilitate the trades and need to position in equity futures to reduce their risk from unexpected market moves. Their furious buying and selling can heighten short-term swings in stocks, adding to broader volatility, market participants said. LOW POSITIONINGMeanwhile, many so-called "real money" investors such as pension funds and mutual funds have cut their stock allocations to the bone after months of equity volatility, another factor fueling stock swings. At the same time, under-positioned investors have recently tended to jump aboard stock rallies, further extending the moves, market participants said.

☆ Single-bond ETFs may be the key to revolutionize trading Treasurys
▼ + stars: | 2022-10-24 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +3 min

In August, F/m Investments, a $4 billion multi-boutique investment advisor, launched three single-bond ETFs: the US Treasury 10 Year ETF (UTEN) , US Treasury 2 Year ETF (UTWO) , and US Treasury 3 Month Bill ETF (TBIL) . However, Jared Dillian, senior editor at Mauldin Economics, argued in an August Bloomberg op-ed that single-bond ETFs "will be one of the more successful product launches of the year." A solution to investing problemsBuying specific Treasury bonds or notes entails opening an account on TreasuryDirect and buying bonds from the federal Treasury Department at auction. With these ETFs, "you're getting access to the U.S. Treasury on-the-run 2 Year. F/m Investments charges 15 basis points for its single-bond ETFs, and the funds distribute dividends monthly.

☆ Tel Aviv Stock Exchange to restructure and create crypto platform
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, Oct 24 (Reuters) - The Tel Aviv Stock Exchange (TASE) (TASE.TA) said on Monday it would reshape its ownership structure and also create a blockchain platform to allow more trading of crypto currencies in an effort to match international standards. TASE, which went public in 2019, said it would create a new publicly traded holding company that will own 100% of the bourse, which will become a private firm. The exchange said it would create a platform for digital assets using blockchain, or distributed ledger technology. This would allow the trading of digital assets while exporting proprietary technological services to smaller foreign exchanges. Over the first half of 2022, the bourse earned operating profit of 47 million shekels ($13 million) versus 55 million in all of 2021.

☆ Mike Ashley's Frasers raises Hugo Boss exposure and buys ASOS stake
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

A Frasers spokesperson also confirmed a Telegraph report that the British sportswear and apparel retailer now holds more than 5% of ASOS. Frasers first took a stake in Hugo Boss - a supplier to its House of Fraser and Flannels chains - in 2020. The group this month disclosed a 4.5% stake in online clothing retailer N Brown (BWNG.L) and is also seeking full ownership of Australian online retailer Mysale (MYSL.L). It also bought online retailer Studio Retail in February. Shares in Frasers firmed by 0.6% while shares in Hugo Boss were up 0.2%.

☆ Investors should swap these 39 big portfolio losers for more promising counterparts to cut their tax bills and position themselves for bigger profits, Wall Street firm Evercore says
▼ + stars: | 2022-10-23 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

As the year ends, investors will start to incorporate tax loss harvesting into their strategies. Selling some stocks at a loss can allow investors to defer taxes on more successful positions. Julian Emanuel at Evercore explains what to sell at a loss, and what to swap in for 2023. The stock and bond markets have given investors headaches this year, but as 2022 comes to a close, at least their losses can give investors a tax break. Below are the stocks Evercore thinks investors should use as tax loss targets, and those they think investors should swap them out for.

☆ These options trades look cheap ahead of earnings, Goldman says
▼ + stars: | 2022-10-22 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The bank's derivatives research team, led by Vishal Vivek, found several stocks reporting next week whose options look relatively cheap. "We find, while the absolute level of implied moves are high, when adjusted for one month realized volatility, implied moves are only in their 18th percentile relative to the past 17 years; we look for names where implied moves are most under-priced heading into earnings. Our past studies have shown implied moves to be correlated with historical earnings-day moves," Vivek wrote. One of the biggest names on the list is Ford , which is scheduled to report on Oct. 26. Straddles are slightly more expensive than directional bets, but they can profit regardless of which way a stock moves.

☆ Truss and UK market turmoil: What you need to know
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +4 min

Following are latest events, comments and context:POLITICS* Truss is meeting with Graham Brady, the head of the 1922 Committee of Conservative lawmakers, a source in Truss's Downing Street office said. The Guardian's political editor Pippa Crerar said on Twitter that Truss had called the meeting. * Conservative lawmaker Simon Hoare, in parliament for seven years, said Thursday and Friday were crunch days for the government. * Truss has promised disciplinary action against Conservative lawmakers who abstained or failed to support her party in a vote about fracking amid a total breakdown of unity and discipline. * Truss has lost her interior minister, Suella Braverman, who quit on Wednesday, less than a week after she fired her finance minister.

☆ Truss resigns: What you need to know
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +3 min

She said she will remain as Prime Minister until a successor had been chosen within a week. Following are latest events, comments and context:Register now for FREE unlimited access to Reuters.com RegisterPOLITICS* The text of Truss' resignation speech at Downing Street. * Truss said the Conservative party she heads would hold a leadership election to be completed within a week. * Truss's resignation came after she lost her interior minister, Suella Braverman, less than a week after she fired her finance minister. Reuters GraphicsRegister now for FREE unlimited access to Reuters.com RegisterCompiled by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

Its ultra-loose stance has accelerated Japanese investment flows abroad, helping to turn the yen's slump into one of historic proportions. Its net international investment position, the difference between the stock of assets it holds overseas and stock of Japanese assets held by foreigners, was $3.29 trillion at the end of June. International Monetary Fund figures show that of Japan's $9.96 trillion assets overseas, around $3.7 trillion is in equity-related investments, and some $5.7 trillion in debt instruments, including official reserves. Deutsche Bank strategist Alan Ruskin says a YCC change could have spillover effects that could last for a few weeks. Meanwhile, Japanese retail foreign currency deposits at domestic banks rose to 26.58 trillion yen ($182 billion) at the end of August, up 8.3% since the start of the year.

☆ After UK turmoil, Dutch central bank urges pension funds to review liquidity
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

AMSTERDAM, Oct 19 (Reuters) - The Dutch central bank (DNB) said on Wednesday it had called on pension funds in the Netherlands to review their readiness to weather a sudden spike in interest rates, following turmoil among British funds. A spokesperson for the bank confirmed a Financial Times report that said the funds had been asked to review their holdings of liquid assets. Dutch pension funds make less use of interest rate hedges than their British peers and benefit from the larger and more liquid eurozone government bond market. "When a rise in interest rates happens gradually, there is no liquidity risk" it said, though it noted that a liquidity crisis was still possible. Jan Mark van Mill, head of Treasury and Trading at fund manager APG, says his organization conducts monthly liquidity stress tests.

☆ BoE's Hauser: Mini-budget caused 'full-scale liquidation event' for pension funds
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 19 (Reuters) - The fallout in gilt markets from the British government's mini-budget was a "full-scale liquidation event" for pension funds, whose managers were calling the Bank of England with increasing alarm, the central bank's Executive Director for Markets said. "This was a situation that went from 'we're ringing you to let you know' to shouting on the phone to us, within two days," Andrew Hauser told lawmakers on parliament's Treasury committee on Wednesday. "This was a full-scale liquidation event." Pension funds were forced to offload billions of pounds of UK government bonds, or gilts, at distressed prices last month after the government's announcement of tax cuts sent yields soaring, triggering margin calls on derivatives designed to protect the funds against movements in rates. Register now for FREE unlimited access to Reuters.com RegisterReporting by William Schomberg, writing by Sachin Ravikumar, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch central bank urges pension funds to guard against UK-style crisis - FT
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Oct 19 (Reuters) - The Dutch central bank is calling on the country's pension funds to consider boosting holdings of cash and other liquid assets to ensure that they can avoid the turmoil that has hit the UK, the Financial Times reported on Wednesday. The officials at the Dutch central bank have asked local retirement funds to check for signs of stress, recommending that they review liquidity rules and report on any need for fire sales of assets, the report added, citing people familiar with the matter. The move comes after UK pension funds were forced to offload billions of pounds government bonds, or gilts, at distressed prices earlier this month, after an ill-fated package of tax cuts sent yields soaring, triggering margin calls on derivatives designed to protect the funds against movements in rates. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rhea Binoy in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ U.S.-Based Pensions Rush to Assess Interest-Rate Risk
▼ + stars: | 2022-10-18 | by ( Heather Gillers | ) www.wsj.com time to read: 1 min

General Electric, with operations including a gas-turbine plant in South Carolina, uses derivatives to hedge risks in the company’s pension portfolio. David Eisenberg got a call this month from a finance official at a U.S.-based multinational company. The executive wanted to know whether the company had derivatives in its retirement portfolio. “We explained that they don’t,” said Mr. Eisenberg, an investment adviser with Buck, a New York-based pension-actuary and human-resources consulting firm. “They were worried that if they were using derivatives they were exposed to risk.”

The measure must not affect EU security of gas supply, cause an increase in gas use, or disrupt the functioning of gas markets, it said. The move to curb TTF gas prices would require a separate proposal from Brussels and require approval from EU countries. The EU package includes other measures aimed at lessening the impact of high prices on consumers and businesses. The EU package is unlikely to placate all 27 EU countries - whose leaders will discuss the proposals at a summit on Oct. 20-21. Most EU countries have urged the Commission to urgently propose a gas price cap, but disagree on its design.

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